Rawle Lucas

Sudden willingness Without getting into the merits or demerits of the case, it is reasonable to say that the 2013 Budget has an unusual orientation towards the individual taxpayer.

Externalities As noted in the last piece, the cost of providing the goods and services is just as important to suppliers as the price at which they sell the goods and services.

Market works wonders In our first piece, we began the inquiry into the functioning of markets in Guyana noting that the members of the private sector-households and the business community-were inextricably locked in a dependent relationship of mutual survival.

General Agreement Guyana began its return to a market economy in 1989 with the implementation of the “Economic Recovery Programme” (ERP) which was introduced by the Hoyte Administration. 

General Agreement Guyana began its return to a market economy in 1989 with the implementation of the “Economic Recovery Programme” (ERP) which was introduced by the Hoyte Adminis-tration. 

Benefits for Tax Contributions Undoubtedly, the private sector has seen benefits for the tax contributions that it provides. 

The Debate The issue of budget deficits has been a hot topic of debate in the business, academic and international financial community for some time now.

Small Flame As Guyanese gradually settle into the New Year and the trading season for 2013 gets on the way, it is a good time to review the performance of the Guyana Stock Exchange (GSE) during 2012. 

Access updates The Guyana Revenue Authority employs the internet plentiful in its administration, management and enforcement of the revenue activities of the country. 

Motion Sir Isaac Newton helped us to gain a better understanding of the world in which we live when he explained what happens to an object that was in motion. 

A low-tax plan It was recently reported in the Stabroek News that the President of the Georgetown Chamber of Commerce and Industry (GCCI) expressed the view that modifying the personal and corporate tax rates would be a good thing for the Guyana economy. 

Infamous Offenders Even as a reconfigured parliament begins the slow but necessary process of forcing changes to the bad management practices of the government and bringing increased accountability to the use of public funds, Guyanese must again endure the embarrassment of being among some of the worst perpetrators of corruption. 

Declining Participation Unions in Guyana are not as strong as they used to be and many of the institutions that supported workers have either been weakened or otherwise undermined. 

Loan Portfolio The most recent quarterly statistics from the Bank of Guyana show a mixed picture of the lending patterns of the commercial banks in Guyana. 

Conflicts occur The year is almost at an end, but there are already indications of how the country would perform in 2012.

Historic development The global financial crisis which hit the world four years ago continues to produce aftershocks which are altering the global economic and financial formations. 

Location of the Burden As was observed last week, evidence to suggest that VAT had not led to a reduction in tax evasion might exist. 

Directly Involved The value-added tax or VAT as it is more frequently called was introduced in Guyana in the year 2007 to replace the Consumption and other taxes which, ironically, were not consciously paid by the consumers. 

Dull Atmosphere Despite nearly one year of tentative and inconsistent governance, the Guyana economy is set to record another year of growth.